52 The following balances were obtained from the books of Tim Curry plc as at December 31, 2020. DR CR Cost of Sales Closing Stock 10% Debenture Debenture Interest General Reserves 5% Loan 758,500 210,000 350,000 20,000 40,000 200,000 Loan Interest 6,000 Retained Earnings 20,000 Goodwill 200,000 Ordinary Share Capital @ $2 400,000 10% Preference Share Capital @ $1 400,000 Share Premium 30,000 Sales Tumover 1,300,000 Debtors 60,000 Bank $8,000 Provision for Bad Debts 5,000 Wages and Salaries 122,000 Insurance 47,000 Management Fees 60,000 Directors Fees 40,000 Motor Vehicle 500,000 Provision for Depn on Motor Vehicle 40,000 Premises 550,000 Machinery and Equipment 220,000 Creditors 33,000 Provision for Depn Mach & Equip 37,500 Interim Preference Shares Dividends 25,000 Interim Ordinary Shares Dividend 5,000 2,843,500 2,843,500